Canopy 360 Wealth, LLC (Ocala)


Canopy 360 Wealth, LLC is a large advisory firm based in Ocala. It manages $106.89 million of regulatory assets for 429 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of Florida.

Canopy 360 Wealth provides financial planning services and portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Canopy 360 Wealth: assets under management

The assets under management (AUM) of Canopy 360 Wealth, LLC is $106.89 million. The firm's AUM has grown by 6% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $69.17 million in discretionary accounts and $37.71 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $175.57 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.08 million.

Investments

The firm invests in investment and business development companies the most. They account for 51% of the total AUM. The second-largest asset type is exchange traded securities, which make up 32% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Canopy 360 Wealth, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Canopy 360 Wealth serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Canopy 360 Wealth is high net worth individuals with 49 clients and $79.16 million of assets under management. Among the 9 most similar advisory firms, Canopy 360 Wealth has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $106.89 million for 218 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Canopy 360 Wealth doesn't advise any private funds.

Careers at Canopy 360 Wealth, LLC

The company employs 5 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Llc Powers Wealth Management Partner 1 May 2018 50% - 75% 82-4194920
Llc Lindsay Financial Services Partner 1 May 2018 25% - 50% 20-3470169
Lance Montgomery Powers Chief compliance officer 1 May 2018 Other 5607722

Indirect Owners

The SEC currently registers 3 indirect owners.

Name Entity Date acquired Ownership Employer ID
Russell Clay Lindsay Member 1 Sep 2005 75% - 100% 5048368
Lance Montgomery Powers Member 1 Jan 2018 75% - 100% 5607722
Jamie Gump Losito Member 1 Jan 2018 Other 5988247

Based in Ocala

The principal office where Canopy 360 Wealth, LLC performs its advisory services is located at 112 East Fort King Street, Ocala, FL 34471, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (352) 369-1120. The normal business hours are 8 am - 5 pm on Monday - Friday. You can find more information about the New York firm at canopy-360.com.